Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0428%/8h= +46.9% APRpaid last 24h +0.029%

Price spread now: Phemex against gTrade (Gains Network)+0.116%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Phemex is 0.116% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) TAO/USD	318.84	L +0.0004% / S −0.0005%	pay 0.0001% / 1h	7m 41s	$22K	—	150x
Short	Phemex TAOUSDT	319.21	0.0432	get 0.0216% / 4h	7m 41s	$3.2M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against gTrade (Gains Network). Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee gTrade (Gains Network)bpFee PhemexbpOrdersPrice spread, now +0.116%Rate

Funding earned: $89.92
Price spread: +0.116% → 0.000%: $11.64
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $79.56
Costs to cover: 0.220%
Break-even: 0.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 6 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Phemex live order book, 6 min ago	13.00 bp	20.2 bp −$20	28.7 bp −$287	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

TAO on 43 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) TAO/USDlong	L +0.0004% / S −0.0005%	1h	318.84	long leg	$22K	—	150x
dYdX TAO-USD	+0.0066%	1h	318.86	+0.007%	$128K	$86K	5x	as long as short
Popdex TAOUSDT	+0.0096%	1h	319.03	+0.060%	$48K	$715K	20x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	319.10	+0.082%	$26.5M	$132.2M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	318.80	−0.012%	$14.8M	$52.3M	50x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	318.94	+0.032%	$17.9M	$32.5M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	318.86	+0.007%	$36.0M	$58.1M	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.96	+0.038%	$87K	$1.2M	5x	as long as short
SunX TAO-USDT	+0.0100%	4h	318.94	+0.032%	$2K	$2.0M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	318.56	−0.088%	$117K	$603K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX TAO/USD [WBTC.b-USDC]	L +0.0103% / S +0.0137%	1h	318.85	+0.003%	$411K	—	100x	as long as short
Katana Perps TAO-USD	+0.0106%	8h	318.98	+0.044%	$653	$1.2M	5x	as long as short
ApeX Omni TAOUSDT	+0.0121%	1h	319.65	+0.254%	$46K	$259K	50x	as long as short
Aevo TAO-PERP	+0.0128%	1h	319.48	+0.201%	$175K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0179%	4h	319.20	+0.113%	$52K	$294K	10x	as long as short
edgeX TAOUSDC	+0.0189%	4h	319.75	+0.284%	$42K	$319K	10x	as long as short
MEXC TAO_USDT	+0.0194%	4h	318.75	−0.028%	$104.3M	$152.8M	300x	as long as short
Binance TAOUSDT	+0.0195%	4h	318.72	−0.037%	$93.2M	$533.5M	75x	as long as short
Bulk TAO-USD	+0.0217%	1h	317.92	−0.287%	$169K	$0	10x	as long as short
Paradex TAO-USD-PERP	+0.0265%	8h	319.00	+0.050%	$14K	$1K	10x	as long as short
BingX TAO-USDT	+0.0278%	4h	319.07	+0.072%	—	$37.4M	—	as long as short
Bybit TAOUSDT	+0.0285%	4h	318.98	+0.044%	$70.1M	$157.2M	50x	as long as short
Bullet TAO-USD	+0.0305%	1h	319.32	+0.150%	$12K	$17K	20x	as long as short
Pacifica TAO	+0.0313%	1h	319.00	+0.051%	$374K	$465K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0318%	4h	319.67	+0.259%	$544K	$896K	10x	as long as short
Aster TAOUSDT	+0.0356%	4h	318.78	−0.019%	$1.3M	$11.0M	50x	as long as short
Extended TAO-USD	+0.0384%	1h	319.01	+0.055%	$906K	$2.4M	25x	as long as short
Phemex TAOUSDTshort	+0.0432%	4h	319.21	+0.116%	$3.2M	$8.1M	50x
BloFin TAO-USDT	+0.0435%	4h	319.37	+0.167%	$4.7M	$11.0M	100x	as long as short
Nado TAO-PERP	+0.0468%	1h	318.92	+0.025%	$782K	$2.0M	10x	as long as short
Arcus TAO-USD	+0.0473%	1h	319.46	+0.195%	$101K	$384K	5x	as long as short
Variational Omni TAO	+0.0568%	4h	319.84	+0.314%	$5.6M	$10.1M	—	as long as short
Phoenix TAO	+0.0629%	1h	319.90	+0.333%	$322K	$703K	5x	as long as short
Lighter TAO	+0.0632%	1h	318.98	+0.044%	$1.6M	$6.9M	5x	as long as short
01 Exchange TAOUSD	+0.0688%	1h	319.43	+0.185%	$3K	$4K	5x	as long as short
Reya TAORUSDPERP	+0.0698%	1h	319.10	+0.081%	$367	—	20x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0699%	1h	319.23	+0.121%	$15K	$1.9M	25x	as long as short
Hyperliquid TAO	+0.0701%	1h	319.15	+0.098%	$94.5M	$110.1M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0703%	1h	319.29	+0.141%	$417K	$969K	10x	as long as short
Kraken Futures PF_TAOUSD	+0.0830%	1h	319.30	+0.146%	$6.0M	$21.7M	50x	as long as short
RISEx TAO/USDC	+0.0831%	1h	319.19	+0.109%	$452K	$662K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	319.20	+0.113%	$1.3M	$7.2M	50x	as long as short
Injective TAO/USDC PERP	+0.4513%	1h	322.44	+1.129%	$23K	$2K	12x	as long as short